KLP Kapitalforvaltning AS Purchases New Position in Chord Energy Co. (NASDAQ:CHRD)

KLP Kapitalforvaltning AS purchased a new stake in Chord Energy Co. (NASDAQ:CHRD - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 14,942 shares of the company's stock, valued at approximately $1,747,000.

Several other hedge funds have also added to or reduced their stakes in CHRD. Brooklyn Investment Group acquired a new position in shares of Chord Energy in the fourth quarter valued at $29,000. Twin Tree Management LP acquired a new position in Chord Energy in the 4th quarter valued at about $33,000. Larson Financial Group LLC grew its stake in Chord Energy by 238.3% in the 4th quarter. Larson Financial Group LLC now owns 318 shares of the company's stock valued at $37,000 after buying an additional 224 shares during the last quarter. R Squared Ltd bought a new position in Chord Energy in the 4th quarter valued at about $51,000. Finally, Venturi Wealth Management LLC lifted its position in Chord Energy by 1,751.9% during the fourth quarter. Venturi Wealth Management LLC now owns 500 shares of the company's stock worth $58,000 after acquiring an additional 473 shares during the last quarter. Institutional investors and hedge funds own 97.76% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on CHRD shares. Wells Fargo & Company decreased their target price on Chord Energy from $175.00 to $166.00 and set an "overweight" rating on the stock in a research report on Monday, March 24th. Morgan Stanley set a $139.00 price objective on Chord Energy and gave the company a "cautious" rating in a report on Wednesday, March 26th. Citigroup downgraded Chord Energy to a "reduce" rating in a report on Wednesday, March 5th. Piper Sandler decreased their price target on shares of Chord Energy from $193.00 to $184.00 and set an "overweight" rating on the stock in a research note on Thursday, March 6th. Finally, Truist Financial lifted their price objective on shares of Chord Energy from $185.00 to $186.00 and gave the stock a "buy" rating in a research note on Monday, January 13th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Chord Energy presently has a consensus rating of "Moderate Buy" and an average target price of $161.46.

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Chord Energy Price Performance

NASDAQ:CHRD traded down $0.09 during mid-day trading on Tuesday, reaching $112.63. The stock had a trading volume of 504,779 shares, compared to its average volume of 940,348. The stock has a 50-day simple moving average of $111.25 and a two-hundred day simple moving average of $121.02. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.93 and a quick ratio of 0.89. Chord Energy Co. has a 12 month low of $99.40 and a 12 month high of $190.23. The stock has a market capitalization of $6.70 billion, a PE ratio of 5.80, a P/E/G ratio of 5.83 and a beta of 0.98.

Chord Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 26th. Stockholders of record on Tuesday, March 11th were issued a dividend of $1.30 per share. The ex-dividend date was Tuesday, March 11th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.62%. This is a boost from Chord Energy's previous quarterly dividend of $1.25. Chord Energy's payout ratio is 32.62%.

Chord Energy Company Profile

Chord Energy Corporation operates as an independent exploration and production company in the United States. It acquires, explores, develops, and produces crude oil, natural gas, and natural gas liquids in the Williston Basin. The company sells its products to refiners, marketers, and other purchasers that have access to nearby pipeline and rail facilities.